The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-10-03
MEMPHIS DAILY APPEAI--MONDAY, OCTOBER 8, 1887

ands Of people for many years 10
,ome. Its capital Is as public debt
IN which interest must be paid be.
ore the worker puts bread In his
mouth. Bat there Is also something
10 BIZ said for this Elyton Land Com.
,any. It's measure of deserving ia
arge. II II has anticipated tho earn.
ngs Of great industrial population,
/ has made some little title'to that
profit by itG enterprise in preparing
Red mountain az place for homes,
with advantages Of pure air and
more ggreesble temperature than can
be found in ths valley, and by build.
log dummy line to reach it. II
also made preparations for the min
eral industries and railroads, |
and constructed belt line of
railroad for ths distribution q freights |
to manufacturers. It's usefulness as |
40 sgqncy in building up Birmingham
must be acknowledged, but there Is
danger Of lite OUTLYING its usefulness.
II has been very valuable az guide
and helper, but the epterprising PEG.
pie, who would greatly prefer to take
the future in their own hands, are
gro wing resIlye under the restraints
1t imposes. The value OF Its stock,
as listed on the Stock Exchange Of
Birmingham, being $1,000 per share,
tells the story Of Its power and the
enormous profits which have accrued
TO II. The stock Of the North Birmipg.
ham Land Company, the next highest
in value on the list, is only sl25 per
share, and the next to that, the Brook.
Ign Land Company, is only 800
Following these, the stock OF the Bes.
semer Land Company is quoted at Sole
per share, that Of tie Est Birmipg.
ham Company at 29ac. and that Of the
Smithfsld Company at &c. These
contrasting figures are the notes Of
warning Of q struggle that is telling
against Birmingham, and must
to greater extent In the
future, ss these towns become
stronger. The city, by go much
as the population these places
have and are to have, and the better
opportunities they ofier to the poor
man, Is and will be shorn Of lite
strength. These divisions are unfort-
innate. They beget local rivslries that
always retard development. But they
are necessary. Land is held at such
inflated prices. the city 10 30 bal.
looned, that for furnaces and rolling
mills there must be expedients like
BesSemer. to which place the rail-
roads are building branches, in
order that they may secuIe
q tonnsge, which is heavy and
is q rapidly increasing quantity. To
al mp the wide gaps that separate
these places will take q century, II II
is ever done. There are many men In
Birmingham who viii not agree TO this.
But they are the slaves Of imagins.
tons too vivid for practical and mat
ter.oi.iact people. To them this sepa.
ration OF interests 10 q God-send, since
II furnishes them the distance that
lends enchantment TO their view. They
do not stop To calculate the effect oil
this separation from Birmingham o.
people who are 10 become more ant
moro independent Of IL. having Just the
same railroad facilities and the great
or advantage Of being nearer 10 the
mines. Besides this, all the furnaces
are on an Independent footip,
a. 10 railroads for the carrisg,
Of their raw material. az coal TO tn,
coaking ovens, and coke, iron ore snC
iiux 10 the furnace. One Of these
that belonging 10 the woodwar,
Company, Is perhaps the most com
pletely fitted concern Of the kind II
the world. At one end Of their neul!
5000 acres Of land there are the iroI
mines, the mineral cropping out upor
the surface, and at the other the coax
Ing coal mine, part Of the Pratt lead
and In between there Ia q quarry o
limestone Of percentage well nigh Il
pure carbonate, and the coakinI
ovens near by and on both sides o
their own we'll laid trAckway Of clever
miles Of road, beside sidings, on whicl
they run their own engines and car,
u all the energy Of capital, intelligence
and labor, thus 90 widely separated
was concentrated within the limits 0
the city Of Birmingham, a. capital
and labor, and intelligence are ooncen
trsted In Pittsburg, Cleveland, Ohicsg
and Kansas City, the result woul,
mako an exhibit that would be
nearly safe and reliable foundation 70
the stories that are told In Blrmlns
ham In which sdjsctives like "marvel
ous," wonderful" and "amsrlng'
play 90 conspicuous apart. But, scat
tered ss II ~ Is, and away ont Of sigh
a. you stand on the highest and bee
point Of view In the city, the eItrs
ordinary prices al which real estate
held seems 10 be far and away beyor'
any justification even In the hope o
things 10 come. Communities, lik'
men, grow by the exercise Of all thel
a